Year 2008, Issue 4
Date published6.3.2008
Table of content
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Maya Lambovska
Utility Function (by von Neumann-Morgenstern) – an Instrument for Solution under Uncertainty and CrisesJEL: M10Summary: This paper presents the possibility of using Von Neumann–Morgenstern utility function as a tool for choosing an alternative way for dealing with crisis in organizations operating in uncertain... This paper presents the possibility of using Von Neumann–Morgenstern utility function as a tool for choosing an alternative way for dealing with crisis in organizations operating in uncertain environment.DOI: -
William Barnett Ii, Walter E. Block
Involuntary UnemploymentKeywords: zero unemployment, involuntary unemployment, indifference, praxeology, psychology, psychologizing, Keynesianism, economic scarcitySummary: Our claim is that in the purely free enterprise system, there can be no such thing as involuntary unemployment, as long as wage demands are in accord with expected productivity, as perceived by the potential employer. Seeming... Our claim is that in the purely free enterprise system, there can be no such thing as involuntary unemployment, as long as wage demands are in accord with expected productivity, as perceived by the potential employer. Seeming counter examples are shown to violate one or more of these conditions. Nevertheless, there is great resistance on the part of professional economists to this axiomatic claim. The second part of the paper attempts to probe the cause of this resistance, and finds in praxeology, a rejection of Keynesian economics and psychological analysis, the cure for it.DOI: -
Mina Kirova
The Operational Controlling System in the Insurance Company – Structure and CharacteristicsKeywords: System, controlling, controlling system, operational controlling, operational controlling system, insurance companySummary: There are various understandings on the essence of controlling in literature.They could be generalized into two purposeful sides of the concept, namely: as a qualitatively new philosophy and as a management instrument of the... There are various understandings on the essence of controlling in literature.They could be generalized into two purposeful sides of the concept, namely: as a qualitatively new philosophy and as a management instrument of the business unit. In this expose these views are unified in one, in which the result-oriented management of the insurance company appears a way of thinking of the management team and at the same time the controlling assists the management by the necessary informationanalytical and methodical apparatus. Ultimately, the main idea of controlling is to ensure the accomplishment of insurer’s objectives by coordinating the realization of traditional managerial functions and providing, in due time, the information relevant for the managerial decision making. The structure and organization of the controlling system is subordinate to the general theory of the system. Its development within the insurance company is accomplished on the basis of two supporting points: the first one is the personification and subjectivization of the links and interactions between the comprising elements of the system; the second is the technology of the implementation of the controlling presented as a process of consecutive actions of targeting, planning, reporting of expenses and operating results, the control and the information backup of the management team. The characteristics of the operational controlling system are being displayed mainly upon the differentiation of the strategic from the operational controlling and are, at the same time, pre-determined by the necessity to reflect the specifics of the insurance activity. The latter determines the inclusion of the actuary’s technique and the insurance-technical analysis as elements of the controllership system, and the actuary-in-chief himself as a subject of controlling.DOI: -
Mihail Chipriyanov
The Advantages of Competitive Strength Report for the Strategic ManagementJEL: M21Keywords: Competitive Strength Report (CSR), Strategic Competitive Strength, Conditions of Competitive Strength, Competitive Potential, PEST - AnalysisSummary: The Competitive Strength Report (CSR) is a method for strategic researches and decisions concerning strategic competitive strength of the company. Its applying pursue of determination on the current condition and the perspectives... The Competitive Strength Report (CSR) is a method for strategic researches and decisions concerning strategic competitive strength of the company. Its applying pursue of determination on the current condition and the perspectives towards development of the competitive strength, which makes easier the elaboration of the strategic decisions and determination of the resources necessary to its implementation. Using CSR contributes to introducing a higher degree of analytic thinking in the strategic planning and managing processes as a whole as well as in the various particular stages.DOI: -
Spas Dimitrov
Theoretical Foundations of Logistics. 3. Terminology of LogisticsSummary: The study is a linguistic investigation of the terms of the logistics. The most interesting and the most important terms are chosen from the above-mentioned branch and on the basis of their analysis a comparatively detailed... The study is a linguistic investigation of the terms of the logistics. The most interesting and the most important terms are chosen from the above-mentioned branch and on the basis of their analysis a comparatively detailed characteristic is presented of the logistical terminology. Some basic problems treats in the first part, connected with the notion “term”. A structural characteristic is done of the logistic terms. Is treats the term formation in logistic. It is done in the three different ways: lexico-morphological, lexico-syntactical and lexico-semantical. Is done the analysis in the formation the terms of the logistic. The last part treats the problems of the logistical terminological system.DOI: -
Ludwig Von Mises
Human Action, Part Four, Chapter XIX. InterestKeywords: human action, interestSummary: It has been shown that time preference is a category inherent in every human action. Time preference manifests itself in the phenomenon of originary interest, i.e., the discount of future goods as against present... It has been shown that time preference is a category inherent in every human action. Time preference manifests itself in the phenomenon of originary interest, i.e., the discount of future goods as against present goods.DOI: